New Century Financial
Corporation (NYSE: NEW), a real estate investment trust and parent company of
one of the nation's premier full-service mortgage finance companies, announced
today that total loan production volume for the third quarter of 2005 was
$16.7 billion, representing a 67 percent increase compared with the same
period in 2004.

Mortgage Loan Production
The following table compares non-prime, prime and total loan production
volumes for the periods shown:

$'s in Billions 2005 2004
Avg. Avg.
Funding Daily Funding Daily
$ Vol. Days $ Vol. $ Vol. Days $ Vol.
Non-Prime
July $4.6 20 $0.230 $3.6 21 $0.171
August 6.1 23 0.265 3.2 22 0.145
September 5.1 21 0.243 3.2 21 0.152
QTD $15.8 64 $0.247 $10.0 64 $0.156

YTD $39.5 190 $0.208 $30.7 190 $0.162

Prime
July $-- 20 $-- $-- $--
August -- 23 -- -- --
September 0.9 21 0.043 -- --
QTD $0.9 64 $0.014 $-- $--

YTD $0.9 190 $0.005 $-- $--

Total
July $4.6 20 $0.230 $3.6 21 $0.171
August 6.1 23 0.265 3.2 22 0.145
September 6.0 21 0.286 3.2 21 0.152
QTD $16.7 64 $0.261 $10.0 64 $0.156

YTD $40.4 190 $0.213 $30.7 190 $0.162

$'s in Billions
% Change in Vol. % Change in Avg.
Non-Prime
July 28% 35%
August 91% 83%
September 59% 60%
QTD 58% 58%

YTD 29% 28%

Prime
July -- --
August -- --
September -- --
QTD -- --

YTD -- --

Total
July 28% 35%
August 91% 83%
September 88% 88%
QTD 67% 67%

YTD 32% 31%

"We are pleased to report September's total loan production of $6.0
billion, which was enhanced by the recent addition of prime loans to our
product menu," said Robert K. Cole, Chairman of the Board and Chief Executive
Officer. "Our year-to-date production puts us well on track to achieve 2005
total loan production in the range of $50 billion to $55 billion."

Third Quarter 2005 Results Announcement
The company will report its third quarter 2005 financial results on
Thursday, November 3, 2005 before the market opens and will host a conference
call that day at 8:00 a.m. PST to discuss the results. To participate on the
call, dial (800) 638-4817 or (617) 614-3943 and use passcode 12143879. The
accompanying slide presentation will be available on the Investor Relations
section of the company's Web site at http://www.ncen.com the morning before the call
under "Third Quarter 2005 Earnings Event."
A replay of the call will be available from 12:00 p.m. PST on November 3,
2005 through 9:00 a.m. PST on November 10, 2005. The replay number is
(888) 286-8010 or (617) 801-6888 and the passcode is 80338118. Additionally,
the call will be webcast live and archived on the Investor Relations section
of the company's Web site at http://www.ncen.com.

About New Century Financial Corporation
Founded in 1995 and headquartered in Irvine, California, New Century
Financial Corporation is a real estate investment trust and one of the
nation's premier full-service mortgage finance companies, providing first and
second mortgage products to borrowers nationwide through its operating
subsidiaries, New Century Mortgage Corporation and Home123 Corporation. The
company offers a broad range of mortgage products designed to meet the needs
of all borrowers. New Century is committed to serving the communities in
which it operates with fair and responsible lending practices. To find out
more about New Century, please visit http://www.ncen.com.

Safe Harbor Regarding Forward-Looking Statements
Certain statements contained in this press release may be deemed to be
forward-looking statements under federal securities laws and the company
intends that such forward-looking statements be subject to the safe-harbor
created thereby. Such forward-looking statements include, but are not limited
to, the company's projection that its year-to-date production puts it well on
track to achieve 2005 total loan production in the range of $50 billion to $55
billion. The company cautions that these statements are qualified by
important factors that could cause actual results to differ materially from
those reflected by the forward-looking statements. Such factors include, but
are not limited to: (i) the condition of the U.S. economy and financial
system; (ii) the interest rate environment; (iii) the effect of increasing
competition in the company's sector; (iv) the stability of residential
property values; (v) the potential effect of new state or federal laws and
regulations; (vi) the outcome of litigation or regulatory actions pending
against the company; and (vii) the company's ability to maintain adequate
credit facilities to finance its business. Additional information on these
and other factors is contained in the company's Annual Report on Form 10-K for
the year ended December 31, 2004 and the other periodic filings of the company
with the Securities and Exchange Commission. The company assumes no, and
hereby disclaims any, obligation to update the forward-looking statements
contained in this press release.